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Friday, February 22, 2013

Federal Reserve Extends Comment Period on Foreign Bank Proposal

The Federal Reserve Board has extended until April 30, 2013, the comment period on a proposed rule to implement the enhanced prudential standards and early remediation requirements mandated by the Dodd-Frank Act for foreign banking organizations and foreign nonbank financial companies supervised by the Board.

The enhanced prudential standards include risk-based capital and leverage requirements, liquidity standards, risk management and risk committee requirements, single-counterparty credit limits, and stress test requirements.

Originally, comments were due by March 31, 2013.

Read more.

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